Streetbeat News

Acquisitions Mergers

AVTX

Avalo Therapeutics' shares surged following the announcement of its acquisition of a Phase 2-ready anti-IL-1β monoclonal antibody, AVTX-009, through the purchase of AlmataBio. Additionally, Avalo disclosed a private placement financing deal worth up to $185 million.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 1:08 pm

BLK

NKLA

NVDA

TSLA

The crypto market cap surpasses $2.6 trillion, driven by Dogecoin's spike and BlackRock's successful Bitcoin ETF. In US markets, Nvidia is removed from Piper Sandler's model portfolio, and the S&P 500 hits a new record. Biden's comprehensive policy for federal AI use is unveiled, amid various political and economic developments globally. In tech, significant investments in AI and lithium signal industry confidence. The electric vehicle sector sees mixed fortunes, with Tesla adjusting to Mexico's EV charging rules and Nikola launching a hydrogen fueling station.

Portfolio Pulse from Akanksha Bakshi

March 28, 2024 | 12:49 pm

SBOW

SilverBow Resources reported a Q4 net income of $183M, or $7.12 per share, and highlighted its strategic implementation and business momentum. The company rejected Kimmeridge's proposal, deeming it undervalues SilverBow, and emphasized the need for due diligence on Kimmeridge Texas Gas (KTG) assets. SilverBow launched a website for shareholder information and filed a preliminary proxy statement for its 2024 annual meeting. The company also outlined governance enhancements and its commitment to shareholder value, citing significant progress and positive business momentum, including record Q4 results and a transformative acquisition in South Texas.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:43 pm

AON

AXAHF

The collapse of Baltimore's Francis Scott Key Bridge, caused by a collision with a Singapore-flagged container ship, could lead to an unprecedented insurance payout of up to $4 billion, surpassing the Costa Concordia disaster's $1.5 billion. AXA SA (AXAHF) is the lead reinsurer, with Aon PLC (AON) and Chubb Ltd (CB) also implicated as the insurance broker and involved insurer, respectively. The final payout will depend on factors like port closure duration and business interruption coverage.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 12:42 pm

IONM

Assure Holdings Corp. (NASDAQ:IONM) completed the sale of certain IONM business assets to MPOWERHealth for up to $4.5M on March 26, 2024. The deal includes $2.32M in cash and up to $2.18M in potential earnout payments. The sale encompasses healthcare facility contracts, clinical equipment, and most employees, while Assure retains some assets and its revenue cycle management team.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:39 pm

AVTX

BDRX

XLO

Avalo Therapeutics (AVTX) saw a 406% increase after acquiring an Anti-IL-1β mAb and announcing a private placement financing of up to $185 million. Xilio Therapeutics (XLO) experienced a 399% surge following an exclusive license agreement with Gilead Sciences for a tumor-activated IL-12 program and a $11.3 million private placement equity financing. Biodexa (BDRX) shares rose by 46% as its MTX110 showed promise in extending life expectancy against aggressive brain cancers.

Portfolio Pulse from ryanfaloona@benzinga.com

March 28, 2024 | 12:36 pm

BALY

Bally's Corporation's special committee has engaged Macquarie Capital and law firms Potter Anderson & Corroon LLP and Sullivan & Cromwell LLP to evaluate a preliminary acquisition proposal from Standard General. No decisions have been made regarding the proposal, and there's no guarantee of a definitive offer or transaction completion.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:33 pm

VZIO

WMT

Walmart Inc (NYSE:WMT) plans to refile its acquisition documents for Vizio Holding Corp (NYSE:VZIO) after withdrawing its initial filing to allow more time for antitrust review. The over $2 billion deal aims to enhance Walmart's advertising revenue and customer services by leveraging Vizio's expertise in TVs, advertising, and streaming. The refiling follows discussions with the Federal Trade Commission and the Department of Justice, with a new waiting period set to expire on April 29, 2024.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 12:28 pm

AVTX

GCTS

MLKN

RH shares surged 9.4% in pre-market trading after releasing Q4 results and an upbeat full-year 2024 forecast, despite weaker-than-expected Q4 results. Other stocks showed significant movement in pre-market trading, with notable gainers including Avalo Therapeutics and Binah Capital Group, and losers like GCT Semiconductor Holding and MillerKnoll.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 12:21 pm

BTCUSD

The upcoming Bitcoin halving in April 2024 is expected to boost ETF opportunities in the cryptocurrency sector, according to a report by Canaccord Genuity. The halving, which reduces miner rewards by 50%, along with the approval of spot exchange-traded funds (ETFs) and a growing risk appetite, contributed to a 60% increase in Bitcoin's value in Q1 2024. The SEC's approval of 11 U.S. spot Bitcoin ETFs is seen as a positive development, potentially making spot ETFs a significant factor in Bitcoin's price action. However, the traditional impact of the halving may be diminishing due to the influx of institutional demand through Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 12:17 pm